What does LBVS stand for?

What does LBVS mean? We have 2 definitions. Read most used LBVS meanings below.

LBVS / (Laughing But Very Serious). This expression is used when a user finds a situation very funny but serious at the same time.

Speaker 1: My boss just caught me playing on Reddit while I was at work LBVS.
Speaker 2: lol hopefully you don’t get fired.